i do know where it is though, Dire Straits did a concert there in 1982 on the 'On every street' tour. Excellent concert it was too.

You keep on mentioning it so must be itching to tell us what and how you put measures in place to cope with Basel 2, so please do. Did it take long, very involved? What was it you put in place and how?

I keep mentioning Basel because it re-defined that way in which banks managed riskThis led to changes in the way that Capital Adequacy reserves were calculatedAnd governance - which is one of the 3 pillars of Basel II

This summary from Investopedia:

"Basel II has three pillars: minimum capital, supervisor review and market discipline. Minimum capital is the technical, quantitative heart of the accord. Banks must hold capital against 8% of their assets, after adjusting their assets for risk."

I implemented Basel II processes at 2 different banks in 2 continents in 2 different governance regimesI implemented one of the three risk strategies - Operational Risk; Liquidity risk; and Credit Risk

Operational risk is concerned with potential for operational failures - such as happened to TSB recentlyLiquidity risk is the traditional "run on the bank" scenario which is what John McDonnell says he is preparing for should he ever get to No 11Credit Risk is what I was responsible for deliveringThis involved risk-weighting all of the assets - and different approaches were taken by the 2 banks.If you are going to risk-weight each asset then you need to calculate for each the "probability of default" and the "probability of loss / given default"The consolidated results are then used to calculate the appropriate capital adequacy requirement.

Each program took about 18 to 24 months to build and implement

It's about to be superceded by Basel III about which I know nothing more than can be found online.

So you had nothing to do with the actual regulation side of Basel, just a part in deploying an IT system, or part of a system, for it.

I need to mention again that this is nothing to do with regulation, that existed before Basel and will continue after. This is about the system of money. Where does it come from how and by who. You seem to keep ignoring that core issue.

Rolluplostinspace wrote:You make yourself look more stupid with each post.We live with a monetary system that is debt based. Every pound is borrowed into existence.It didn't exist till you signed for it.We live in a debt based monetary system.Our money is created as units of debt not units of value.No debt equals no money.The money is created out of thin air.We used to have these very same arguments with Maddog but he retired from the discussions presumably having done a little research.

Remember Germany 1930's where a loaf cost a truck load of money?Germany could not buy wheat steel oil anything from the rest of the world because Germanies money had become worthless.Yet suddenly overnight Hitler created the biggest most modern military the world had ever seen at that time.Massive air and naval power the first motorways car production with the intentions of every German family having a car.Hitler went on to appear on the cover of Time Magazine twice for his economic miracle.What was this miracle?He kicked Rothschild banking out of the country and created his countries currency interest/debt free.

Jack what you say is true....altho by the mid to late 20s the germans were taking several brilliant steps to free themselves from the rothchild weasels..including dumping the worthless old marks and replacing them with the new mark which wasnt under the stranglehold of the banks.The krauts were clever enterprising people and still are today.

germany got screwed over after and before ww1 no doubt. thankfully the USA knew better than to punish the germans after ww2.

On January 14th 1946, in Paris, two forms of reparation were set up for the allies, in forms of shares: all reparations including funds, and those in the form of 'industrial and other capital equipment'. The U.K., U.S., France and Yugoslavia were the biggest shareholders.

According to Pablo De Grieff, author of "The Handbook of Reparations", by September 30th 1965, Germany had paid $4.5 billion, which rose to a total of more than $38.6 billion by 2000.

Note, US was one of the 'shareholders' paid war reparations by Germany...